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Source Of Funds
- ShaunWhite
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- wearthefoxhat
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So, I was right the first time....
or maybe not....
I asked Bing, it seems to side with Chat GPT.
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That is complete bollocks! If you win £1000 your budget hasn't changed because you haven't deposited or withdrawn anything.wearthefoxhat wrote: ↑Sun Jun 25, 2023 10:10 amSo, I was right the first time....
or maybe not....
I asked Bing, it seems to side with Chat GPT.
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- ShaunWhite
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Well ChatGPT came up with 2 different answers so Bing was probably going to agree with one of them.
![Smile :)](./images/smilies/icon_e_smile.gif)
Tbh the ChatGPT training data cutoff is Sept 2021 so I don't know where its getting all the "Betfair would blah blah blah" stuff from. The way the AI works if it found 10 wrong references and one right reference it would tell you the wrong one anyway.
I think it's time for PW to get some on-the-record answers from Betfair management at his next meeting.
I actually find what WTFH posted reassuring because it suggests people who don't deposit will have no issues. I think Peter alluded to that previously.
But what does Betfair mean when they say "in our app settings"? Is there a place where you can see your deposit limit?
But what does Betfair mean when they say "in our app settings"? Is there a place where you can see your deposit limit?
- ShaunWhite
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- Joined: Sat Sep 03, 2016 3:42 am
I've probably said this before, but 2-step authenticator has helped. Previously, for security reasons I'd withdraw large amounts for safety, whereas now I'm more confident that my money is safe. Withdrawing large sums and then re-depositing them would probably flag my account these days.
If you're self-employed, then you need to treat your BF bank as working capital. If you do, you should be safe from BF making requests for 'source of funds'
If you're self-employed, then you need to treat your BF bank as working capital. If you do, you should be safe from BF making requests for 'source of funds'
There was a news report a year ago where somebody deposited £100K into his Betfair account that went missing. It took him over six months to get it back. He was taking them to court over it but no doubt, he wouldn't have got anywhere with direct communications with Betfair.LeTiss wrote: ↑Sun Jun 25, 2023 12:58 pmI've probably said this before, but 2-step authenticator has helped. Previously, for security reasons I'd withdraw large amounts for safety, whereas now I'm more confident that my money is safe. Withdrawing large sums and then re-depositing them would probably flag my account these days.
If you're self-employed, then you need to treat your BF bank as working capital. If you do, you should be safe from BF making requests for 'source of funds'
Occasionally, when I see my account balance is £0.00, refreshing the page usually solves the problem, but one day, maybe even tomorrow, I might log in and find all the money's really gone!
- wearthefoxhat
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- Joined: Sun Feb 18, 2018 9:55 am
Yep, not depositing is the answer for sure, but being careful not to withdraw too much in one go, unless you need to of course, is also a big consideration.Derek27 wrote: ↑Sun Jun 25, 2023 11:39 amI actually find what WTFH posted reassuring because it suggests people who don't deposit will have no issues. I think Peter alluded to that previously.
But what does Betfair mean when they say "in our app settings"? Is there a place where you can see your deposit limit?
If anyone throws a wobbly and cashes out, then decides to re-deposit the same amount, reckon that'll trigger the Betfair checks. (and may not be possible anyway)
Couldn't find a place where you could see your deposit limit, reckon the old deposit limits still apply, unless you've changed it recently.
Automatically.jamesedwards wrote: ↑Fri Jun 23, 2023 11:09 amGood news. Did they do this automatically or did you ask them for a review?
I, in fact, didn't consider this could only be temporarily for this month and I'd be sent back to 100/month coming July. I'll update you guys.
- ShaunWhite
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The target account might have a different name to the Betfair account name, such as a joint account, a business account, or just something like using an initial vs a full forename.
- ShaunWhite
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- Joined: Sat Sep 03, 2016 3:42 am
I was just taking my wages clicked the "What are Net Deposits" link. It confirms your original interpretation and puts any doubt to bed.wearthefoxhat wrote: ↑Sat Jun 24, 2023 11:08 pmI based my reasoning on the NDL info within the Betfair Help section.
The only consideration I can see is the "using a specific payment method", so juggling a number of different accounts would be an issue as they'd be netted off individually and presumably summed to make your overall Net.
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Bad news mate! Labour will be coming after you when they're in power. They want the money back!
too they still have to implement it for mobile.LeTiss wrote: ↑Sun Jun 25, 2023 12:58 pmI've probably said this before, but 2-step authenticator has helped. Previously, for security reasons I'd withdraw large amounts for safety, whereas now I'm more confident that my money is safe. Withdrawing large sums and then re-depositing them would probably flag my account these days.
If you're self-employed, then you need to treat your BF bank as working capital. If you do, you should be safe from BF making requests for 'source of funds'